H.V.T: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
H.V.T
Largest movements
- Receivables within one year -€24,287
down €24,287 (-69.9%), from €34,742 to €10,455
of which Other amounts receivable: -€23,446
- Stocks and contracts +€8,332
up €8,332 (+305%), from €2,733 to €11,065
- Tangible fixed assets -€7,669
down €7,669 (-26.0%), from €29,463 to €21,794
of which Plant, machinery and equipment: -€4,936
- Cash -€4,985
down €4,985 (-63.3%), from €7,879 to €2,894
mainly Net result for the year (-€57,191) and Debts after one year (-€9,158)
- Financial fixed assets -€1,570
down €1,570 (-20.8%), from €7,532 to €5,962
- Profit (loss) carried forward -€57,191
down €57,191 (-62.4%), from -€91,680 to -€148,871
- Trade debts +€44,121
up €44,121 (+109%), from €40,580 to €84,702
- Debts after one year -€9,158
no longer reported in 2024 (was €9,158)
- Other debts -€8,582
down €8,582 (-31.4%), from €27,354 to €18,772
- Current portion of long-term debt +€2,883
up €2,883 (+32.7%), from €8,807 to €11,690
- Gross operating margin -€166,383
down €166,383 (-65.3%), from €254,964 to €88,581
- Staff costs -€50,485
down €50,485 (-26.6%), from €189,944 to €139,459
- Depreciation -€3,884
down €3,884 (-33.6%), from €11,553 to €7,669
- Financial income +€3,807
up €3,807 (+3,325%), from €114 to €3,921
- Other operating charges -€3,025
down €3,025 (-99.0%), from €3,055 to €30
From the 2023 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €82,349 | €52,170 | -€30,179 | -36.6% |
| Fixed assets | 21/28 | €36,996 | €27,756 | -€9,240 | -25.0% |
| Tangible fixed assets | 22/27 | €29,463 | €21,794 | -€7,669 | -26.0% |
| Plant, machinery and equipment | 23 | €23,954 | €19,018 | -€4,936 | -20.6% |
| Furniture and vehicles | 24 | €4,236 | €2,243 | -€1,993 | -47.1% |
| Leasing and similar rights | 25 | €1,274 | €534 | -€740 | -58.1% |
| Financial fixed assets | 28 | €7,532 | €5,962 | -€1,570 | -20.8% |
| Current assets | 29/58 | €45,354 | €24,414 | -€20,940 | -46.2% |
| Stocks and contracts in progress | 3 | €2,733 | €11,065 | +€8,332 | +305% |
| Stocks | 30/36 | €2,733 | €11,065 | +€8,332 | +305% |
| Amounts receivable within one year | 40/41 | €34,742 | €10,455 | -€24,287 | -69.9% |
| Trade receivables | 40 | €11,000 | €10,159 | -€841 | -7.6% |
| Other amounts receivable | 41 | €23,742 | €296 | -€23,446 | -98.8% |
| Cash at bank and in hand | 54/58 | €7,879 | €2,894 | -€4,985 | -63.3% |
| Total equity and liabilities | 10/49 | €82,349 | €52,170 | -€30,179 | -36.6% |
| Equity | 10/15 | -€42,688 | -€99,880 | -€57,191 | -134% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €23,992 | €23,992 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €21,492 | €21,492 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€91,680 | -€148,871 | -€57,191 | -62.4% |
| Amounts payable | 17/49 | €125,037 | €152,049 | +€27,012 | +21.6% |
| Amounts payable after more than one year | 17 | €9,158 | - | -€9,158 | |
| Financial debts | 170/4 | €9,158 | - | -€9,158 | |
| Amounts payable within one year | 42/48 | €115,879 | €152,049 | +€36,170 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | €8,807 | €11,690 | +€2,883 | +32.7% |
| Trade debts | 44 | €40,580 | €84,702 | +€44,121 | +109% |
| Suppliers | 440/4 | €40,580 | €84,702 | +€44,121 | +109% |
| Advances received on contracts in progress | 46 | €2,850 | €1,350 | -€1,500 | -52.6% |
| Taxes, remuneration and social security | 45 | €36,287 | €35,535 | -€752 | -2.1% |
| Taxes | 450/3 | €16,958 | €20,253 | +€3,295 | +19.4% |
| Remuneration and social security | 454/9 | €19,329 | €15,282 | -€4,047 | -20.9% |
| Other amounts payable | 47/48 | €27,354 | €18,772 | -€8,582 | -31.4% |
| Remuneration, social security and pensions | 62 | €189,944 | €139,459 | -€50,485 | -26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,553 | €7,669 | -€3,884 | -33.6% |
| Other operating charges | 640/8 | €3,055 | €30 | -€3,025 | -99.0% |
| Gross operating margin | 9900 | €254,964 | €88,581 | -€166,383 | -65.3% |
| Operating profit (loss) | 9901 | €50,412 | -€58,578 | -€108,990 | |
| Financial income | 75/76B | €114 | €3,921 | +€3,807 | +3,325% |
| Recurring financial income | 75 | €114 | €3,921 | +€3,807 | +3,325% |
| Financial charges | 65/66B | €3,510 | €2,535 | -€975 | -27.8% |
| Recurring financial charges | 65 | €3,510 | €2,535 | -€975 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €47,017 | -€57,191 | -€104,208 | |
| Profit (loss) for the period | 9904 | €47,017 | -€57,191 | -€104,208 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,017 | -€57,191 | -€104,208 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.